Partners Financial Federal C U Mortgage Lending & HMDA Data, 2009
In 2009, Partners Financial Federal C U of Glen Allen, VA reported 180 mortgage applications totaling $6.8 million, up 41% from 2008. The average application was for $37,755, and applicants reported an average income of $68,150. 71% of its applications resulted in an originated loan and 12% were denied. Its largest markets were Richmond, VA (136), Washington-Arlington-Alexandria, DC-VA-MD-WV (6) and Virginia Beach-Norfolk-Newport News, VA-NC (3) (applications in parentheses).
| Mortgage Company & Address | Partners Financial Federal C U 1200 New York Avenue Glen Allen, VA 23060 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2004 |
| Total Number of Mortgage Applications | 180 |
| Total Mortgage Loan Application Amount | $6,796,000 |
| Average Mortgage Loan Application Amount | $37,755 |
| Highest Mortgage Loan Application Amount | $365,000 |
| Average Applicant Income | $68,150 |
| Highest Applicant Income | $216,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Partners Financial Federal C U filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Richmond, VA | 136 | $ 5,719,000 | $ 42,051 | $ 69,000 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 6 | $ 419,000 | $ 69,833 | $ 94,000 |
| Virginia Beach-Norfolk-Newport News, VA-NC | 3 | $ 95,000 | $ 31,666 | $ 39,000 |
| Atlanta-Sandy Springs-Marietta, GA | 2 | $ 9,000 | $ 4,500 | $ 101,000 |
| Baltimore-Towson, MD | 2 | $ 9,000 | $ 4,500 | $ 46,000 |
| Durham-Chapel Hill, NC | 2 | $ 13,000 | $ 6,500 | $ 34,000 |
| Hagerstown-Martinsburg, MD-WV | 2 | $ 22,000 | $ 11,000 | $ 134,000 |
| Lexington-Fayette, KY | 2 | $ 6,000 | $ 3,000 | $ 34,000 |
| Roanoke, VA | 2 | $ 8,000 | $ 4,000 | $ 48,000 |
| Blacksburg-Christiansburg-Radford, VA | 1 | $ 1,000 | $ 1,000 | $ 61,000 |
| Charlottesville, VA | 1 | $ 8,000 | $ 8,000 | $ 50,000 |
| Detroit-Livonia-Dearborn, MI | 1 | $ 10,000 | $ 10,000 | $ 80,000 |
| Florence, SC | 1 | $ 2,000 | $ 2,000 | $ 50,000 |
| Harrisonburg, VA | 1 | $ 3,000 | $ 3,000 | $ 59,000 |
| Lynchburg, VA | 1 | $ 84,000 | $ 84,000 | $ 38,000 |
Mortgage Loan Application Detail Totals for Partners Financial Federal C U in 2009
Loan Purpose |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Home Improvement | 134 | $805,000 | $6,000 | $20,000 | $63,000 | $216,000 |
| Refinancing | 39 | $4,676,000 | $119,000 | $365,000 | $83,000 | $166,000 |
| Home Purchase | 7 | $1,315,000 | $187,000 | $295,000 | $84,000 | $131,000 |
Applicant Race |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| White | 88 | $5,446,000 | $61,000 | $365,000 | $76,000 | $166,000 |
| Black or African American | 44 | $736,000 | $16,000 | $175,000 | $52,000 | $123,000 |
| Not Provided | 42 | $363,000 | $8,000 | $135,000 | $69,000 | $216,000 |
| Asian | 5 | $248,000 | $49,000 | $50,000 | $79,000 | $132,000 |
| Hispanic | 1 | $3,000 | $3,000 | $3,000 | $35,000 | $35,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
Loan Type |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 180 | $6,796,000 | $37,000 | $365,000 | $68,000 | $216,000 |
| FHA-insured (Federal Housing Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
| VA-guaranteed (Veterans Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
Outcome |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Loan Originated | 128 | $3,437,000 | $26,000 | $310,000 | $68,000 | $216,000 |
| Application Withdrawn By Applicant | 27 | $2,195,000 | $81,000 | $295,000 | $79,000 | $153,000 |
| Application Denied By Financial Institution | 22 | $682,000 | $31,000 | $365,000 | $62,000 | $132,000 |
| File Closed For Incompleteness | 2 | $265,000 | $132,000 | $215,000 | $30,000 | $37,000 |
| Application Approved But Not Accepted | 1 | $217,000 | $217,000 | $217,000 | $71,000 | $71,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
Denial Reason |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 11 | $52,000 | $4,000 | $10,000 | $59,000 | $129,000 |
| Credit History | 5 | $22,000 | $4,000 | $5,000 | $57,000 | $100,000 |
| Collateral | 4 | $464,000 | $116,000 | $365,000 | $94,000 | $132,000 |
| Other | 2 | $144,000 | $72,000 | $140,000 | $25,000 | $45,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Partners Financial Federal C U's 2009 lending activity. By analyzing detailed data on mortgage applications, total loan amounts, applicant incomes, loan purposes, and approval rates, industry professionals, researchers, and analysts can gain a clear understanding of this lender's role in the mortgage market.
This in-depth HMDA data allows real estate experts, financial analysts, and policymakers to track lending trends, evaluate borrower demographics,
and assess Partners Financial Federal C U's mortgage approval patterns.
Utilize this powerful dataset to analyze market performance, compare lending practices, and make data-driven decisions in the ever-changing mortgage industry.
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